Jul 2, 2010

Infrastructure Australia’s updated National Priority List

Infrastructure Australia’s updated National Priority List

The Hon Anthony Albanese MP

The Minister for Infrastructure, Transport

Regional Development and Local Government

Leader of the House

Member for Grayndler

July 2 2010

I welcome the release of Infrastructure Australia’s updated National Priority List – the pipeline of projects it considers key to a stronger economy and dealing with the challenges of sustainable population growth, export bottlenecks, urban congestion and climate change.

The Infrastructure Australia Council has determined that future updates to the National Priority List will be completed by 30 June each year.

Given it only contains projects rigorously assessed as having real merit or significant potential, the List is there to guide the long term investment decisions of both the public and private sectors, including super funds.

I also welcome the additional information that has been incorporated into the latest, updated version of the List, namely the inclusion of:

  • A spectrum of assessment and evaluation spanning from ‘Early Stage’ projects to ‘Ready to Proceed’ projects; and
  • Public Cost Benefit ratios for all ‘Ready to Proceed’ projects.

These measures will further strengthen public confidence in the work and objectivity of Infrastructure Australia.

Upon coming to office, we moved quickly to overhaul the way Australia plans, finances and builds its vital economic infrastructure, introducing legislation establishing Infrastructure Australia within our first 100 days.

By establishing this new national body, and engaging with the business community, we have improved major infrastructure decisions and made sure the advice government receives reflects the national interest.

As well as maintaining and regularly updating the National Priority List, Sir Rod Eddington and his fellow Council members will continue their work on identifying the regulatory barriers to investment in the nation’s infrastructure.

The updated National Infrastructure Priority List can be downloaded from:

www.infrastructureaustralia.gov.au/publications.aspx